King Dollar: The Past and Future of the World's Dominant Currency by Paul Blustein
The dollar is the dominant reserve currency today. It has a huge, liquid market with well established court systems and rule of law. It will likely remain the reserve currency of choice unless the USA botches it. With great power comes great responsibility. Most transactions between two countries are denominated in dollars because that is the easiest way to do it. Shutting off dollar access can be used to sanction other economies. However, if this is used too often, it could drive the search for more alternatives and lesson the dollar's strength. There just isn't anything else as good as the dollar now. The book has convincing arguments, but also gives caution to the misuse of dollar strength. There are pros and cons of being a global reserve currency.
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